SPECIAL RELEASE: PROVINCIAL PRODUCT ACCOUNTS OF QUEZON PROVINCE: 2018-2021
Release-Date
Reference-Number
2023-021
GROSS PROVINCIAL DOMESTIC PRODUCT (GPDP) The Gross Provincial Domestic Product (GPDP) of Quezon Province increased from 190.8 billion pesos in 2020 to 202.3 billion pesos in 2021. This translates to a 6.0 percent growth in 2021, from the -6.2 percent decline in 2020. However, the 2021 GPDP level is still lower than the 2019 GPDP of 203.5 billion pesos. Of the 6.0 percent growth in 2021, Industry contributed 3.3 percentage points, closely followed by Services with 3.0 percentage points. On the other hand, Agriculture, Forestry and Fishing pulled down the growth by -0.3 percentage points. Meanwhile, of the 16 industries, the top contributors to the 6.0 percent growth were: Manufacturing with 1.4 percentage points; Construction contributed 1.1 percentage points and Electricity, Steam, Water and Waste Management with 0.8 percentage points. The rest of the industries also grew during the period except for Agriculture, Forestry, and Fishing. In terms of growth rates, the top five industries with the fastest growth rates were: Mining and Quarrying, with 31.0 percent; Construction, with 19.9 percent; and Transportation and Storage, with 17.7 percent; Public Administration and Defense; Compulsory Social Activities, with 15.2 percent; and Information and Communication, with 14.9 percent. On the other hand, in terms of the share of major industries to the economy of the province, Services had the largest share to the economy of Quezon, accounting for 45.3 percent. Industry shared 31.3 percent, while Agriculture, Forestry, and Fishing had a share of 23.4 percent. Moreover, among the 11 industries composing Services, Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycle Activities had the biggest share, with 32.8 percent, followed by Education with 11.2 percent; Public Administration and Defense; Compulsory and Social Activities with 9.9 percent; Real Estate and Ownership of Dwellings, with 9.2 percent and Transportation and Storage with a share of 8.7 percent. Information and communication, Financial and Insurance Activities, Accommodation and Food Service Activities, Other Services, Professional and Business Services, and Human Health and Social Work Activities comprised the remaining 28.2 percent. Meanwhile, of the industries among the Industry Sector, Manufacturing had the biggest share of 45.3 percent, followed by Electricity, Steam, Water and Waste Management with 34.9 percent. On the other hand, Construction shared 19.5 percent, while Mining and Quarrying had the least share of 0.3 percent.
The economy of City of Lucena grew faster at 7.7 percent in 2022, compared to the 4.3 percent growth in 2021, as all industries posted positive growths. In terms of level, the Gross Domestic Product…
The economy of the Province of Quezon accelerated by 7.7 percent in 2022 from a 6.0 percent increase in 2021. In 2022, the Gross Domestic Product of Quezon was estimated at PhP 217.84 billion.
The Gross Provincial Domestic Product (GPDP) of Quezon Province increased from 190.8 billion pesos in 2020 to 202.3 billion pesos in 2021. This translates to a 6.0 percent growth in 2021, from the -6…
